Fanatics appoints new CFO to strengthen oversight of betting ambitions

Fanatics appoints new CFO to strengthen oversight of betting ambitions

Digital sports platform Fanatics has named Andrea Ellis as Chief Financial Officer of Fanatics Betting and Gaming (FBG), its sports betting division.

The international firm – which maintains headquarters in Jacksonville and New York City, US and Manchester, UK – made its ambitions in sports betting clear this year, filing a trademark for BetFanatics in March. 

As CFO at FBG, Ellis will be responsible for business, finance and analysis oversight across the brand’s accounting, debudget, tax, payments, fraud and cost management operations.

She will also play a role in influencing strategy development at the firm, reporting directly to FGB CEO Matt King – a former CEO of Irish international giant Flutter Entertainment’s US-facing FanDuel brand.

“I could not be more excited to join Matt and this incredibly talented betting & gaming team, as well as be a part of the overall growth happening across Fanatics’ global digital sports platform,” Ellis commented. 

“Throughout my career I’ve always searched for opportunities to grow businesses while combining my passions across finance, technology and consumer products, and as a diehard sports fan I can’t imagine a more perfect role than this.”

Ellis was previously CFO of scooter and bike company Lime, and has also held numerous positions at fast food conglomerate Restaurant Brands International (RBI), including Head of Investor Relations and Global Financial Planning & Analysis for RBI, Chief Financial Officer and interim Head of Retail for Tim Hortons, and General Manager of Popeyes.

The new CFO joins Fanatics as the firm’s betting and gaming unit targets further expansion in its home market of the US – and reportedly further afield.

In March, CNBC reported that the brand was considering a takeover of Tipico, one of the largest sports betting operators in Germany and Austria, which would solidify FGB’s foothold in Europe. 

Fanatics as a whole already maintains a strong presence in Europe via its aforementioned Manchester HQ, as well as partnerships with UEFA, Paris Saint-Germain and Premier League club Aston Villa, among other prominent sports organisations on the continent.

King remarked: “We are thrilled to welcome Andrea to our team as we inch closer to formally launching a new, dynamic online sports betting and gaming product for fans,” said King. 

“Andrea has an incredible background leading a wide variety of finance and innovative growth functions across transformative and large-scale consumer brands, experience that will be invaluable to the ultimate long-term success and global scaling of our business.”

Source: SBC News